Daily Deduction Three More Weeks To Make A Spending Deal…
Renu Zaretsky
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The House returns next week. All eyes will be on budget negotiations to avoid a government shutdown before October 1, when federal funding expires. One of many potential hangups: Progressive Democrats say they’ll oppose an effort by party leaders to include language aimed at easing the permitting process for energy projects. The leadership agreed to the effort as part of the deal to win support of Sen. Joe Manchin (D-WV) for last month’s big climate, health, and tax bill.  

Also on the Hill. The House Ways & Means Committee will hold a hearing on the future of US-Taiwan trade on Wednesday, Sept. 14.

Hawaii gears up to distribute tax refunds. Gov. David Ige announced the state is about to start distributing $294 million in tax refunds. Those who included bank account information on their tax returns will receive direct deposit refunds starting next week. Other tax filers will receive checks starting in October. Non-filers have until the end of the year to qualify. A family of four could receive up to $1,000.

Oregon’s enterprise zone tax breaks mostly go to Big Tech’s data centers. Back in 1985, Oregon established an enterprise zone program, offering short-term property tax exemptions to new employers in distressed communities. Now, big tech firms are dominating the program, receiving about three-quarters of all the tax benefits, according to the Oregonian newspaper. Since 2006, Amazon, Apple, Facebook and Google have saved $650 million in property taxes on data centers located in a handful of Oregon counties.

Poll: Plurality of Michigan voters oppose state tax credits for private or parochial education. A WDIV/Detroit News poll finds that 44 percent of Michigan voters oppose giving state income tax credits to donors who contribute money for private or religious school scholarships. About 38 percent back the idea and nearly 17 percent are undecided. So far, 18 states have established tax-credit scholarship programs that give up to 100 percent credits to  business or individual donors to nonprofit organizations that provide scholarships to private school students. 

India to tax some rice exports. The world’s largest rice exporter will levy a 20 percent tax on foreign sales of unmilled rice and some milled varieties. Parboiled and aromatic basmati rice would be exempt. The government wants to secure its domestic supply of rice.

Colombian government proposes a permanent wealth tax. To raise revenue for social programs, the government proposed a tax of 0.5 percent on assets of more than $643,000 and 1 percent on assets exceeding $1.1 million. Bloomberg Tax reports (paywall)  the country’s wealthy are seeking ways to cushion the blow of higher taxes. 

 

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